Blockchain

What is EOS Blockchain?

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EOS coin is a digital currency that was officially launched by Block One in late 2017. Block one is a blockchain company that is specialized in developing blockchain and decentralized projects, and aims to give developers easy-to-use tools for developing decentralized applications.

What is Decentralized applications (dApps)

If you have a copy of a car game on your mobile phone, it loads a copy of its files locally into the phone’s memory so when you launch the game your mobile phone wills search for those files and execute them so you can play the game. Likewise if you have a copy of a movie, song, or something else.

The decentralized application is designed to store files on the Blockchain network instead of storing them on your phone. Suppose that this car game is a decentralized application, then all copies of this game will be stored on the blockchain network.

The decentralized application also provides a fertile environment for developers, giving them high security and fast access, and instead of creating applications within the limits of a single device, they can be created within the limits of a huge potential network.

The EOS project aims to provide a convenient, easy-to-use platform for all decentralized application developers, based on blockchain technology. EOS was designed to be the platform for decentralized applications, similar to the iOS operating system for iPhone applications, and the Windows operating system for computer applications. This depends on developing the blockchain technology itself into a comprehensive market and a user friendly option.

What are the advantages of EOS coin?

EOS is not the first or the only currency to use blockchain technology. There is “Ethereum”, one of the most prominent competitors, as it ranks second in the cryptocurrency market after “Bitcoin”.
However, EOS offers several advantages, including:


Possibility of expansion
That is, the system’s ability to expand and grow, while maintaining the efficiency of its work, Bitcoin can conduct 7-12 transactions per second, while Ethereum conducts 20-30 transactions per second, while bank payment methods such as Visa and MasterCard make more than 30,000 transactions per second. This is why the EOS platform is designed with open capabilities, even exceeding the barrier of 40 thousand transactions per second in the testing phase.

Free token template
Most blockchain projects require the purchase of certain codes or «tokens», to reach the project for a period of time, while EOS has created what it called a free access model, which is not free in the absolute sense, but instead of buying distinct codes that are valid for a limited period, it is enough to buy EOS codes or Advance payment for permanent access to the development platform.

Development package
The development package, or development group, is a set of tools that allows developers and programmers to create and modify applications. The more sophisticated this package and size, gives programmers wider options. In this context, Block One presented a distinctive competitive development package that offers many options.

Authentication
The EOS platform enables users to create new accounts directly on the blockchain network, unlike many other projects that rely on blockchain technology. This option provides quick easy access.

Verify ownership
The EOS platform was created based on the verification model, as all computers on the network verify the number of tokens or codes each participant possesses, and the more the participant owns more currencies the more role he plays in storing and resolving data, which is known as proof of work.

This system is similar to the Bitcoin mining system, but it does not consume much energy and does not require much potential.

Take into account inflation
This project is designed to continue to launch new currencies or tokens only with the growth of the network and the growth of the user base, in order to account for inflation, and to avoid the problem experienced by Bitcoin from a large fluctuation in price, and to keep the price of eos symbols appropriate for the user. The price of the one EOS code was $ 2.67 on June 3, 2020.

How can EOS coin be purchased?
Buying an EOS coin is like buying any other blockchain coin. To start with you should choose an electronic wallet to store your EOS assets, generally the best way is to store your digital assets or your coins in an offline wallet. There is a wide variety of EOS wallets out there.

If you want to buy EOS currencies to develop decentralized applications, you can go to the EOS Blockchain platform and create an account using the “EOS Account Creator”, then pay a certain amount to access the development platform.

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